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MoraBanc makes it easier for you to deal with your national and international suppliers by offering them the option to receive payment on their invoices when they fall due or in advance.
A simple and efficient solution
We simplify the process as much as possible to provide both your suppliers and your business with a flexible and simple service.
Advantages for your company
Your company will save time and costs as the administrative burden and formalities relating to your supplier payments are handled by the bank.
Advantages for your suppliers
Immediate financing that allows suppliers to receive advance payments on their invoices.
Thanks to MoraBanc’s Reverse factoring, you can manage, process and pay your based in Andorra and abroad suppliers’ accepted and not yet due invoices, enabling them the option of discounting their invoices*.
See terms and conditions
- Additional short-term financing source for your suppliers.
Service tailored to companies of considerable size with a high volume of periodic payments allocated to multiple national and international suppliers: department stores, superstores, perfumery or sports equipment stores, etc.
MoraBanc's Confirming International Service
MoraBanc's Confirming International, an international reverse factoring service that relies on the experience, technology and services of Banco Santander, a leading institution for reverse factoring finance, allows you to manage the payment of your international suppliers’ invoices:
- It covers more than 40 countries and is continually expanding.
- Call centre available in 7 languages for payment acceptance.
- Invoices can be processed in any currency that is legally convertible and negotiated on the world’s main financial markets.
Operational system with many advantages for your company:
- Cost savings, since internal expenses related to supplier payments are covered by the Bank.
- Savings on time and travel, as the commercial paper remittances can be processed through online banking.
- Free service unless you send transfers outside Andorra
- Improve your commercial relations and negotiation capacity with suppliers.
- Payments can be made in a variety of currencies and to different countries.
- Optimise your working capital position.
And it also offers advantages for your supplier:
- Reverse factoring allows your supplier to make advance payments of their outstanding invoices and therefore to obtain short-term financing.
- Flexibility: they can choose to make advance payments of all or some of their invoices.
- Instant financing, since it is your company who provides the collateral.
- Increase in their debt capacity, being able to do so without commercial discount lines within their financial institution.
Application resolution within a maximum period of 7 days, as long as all required documents have been provided.
See required documents
MoraBanc pays the amount of any invoices to your national suppliers plus any interest and fees that apply for each advance payment. In the case of international suppliers, MoraBanc sends the invoices to Banco Santander who then makes the payment.
The invoices should correspond to purchases, supplies or services chargeable to your company and originating from your ordinary course of business.
Supplier payments can be made into accounts established both inside and outside Andorra.
The Bank has no obligation to accept all the confirmed invoices with which it is provided. It has the ability to reject those invoices it deems appropriate for rejection.
Financing will be subject to assessment and approval by MoraBanc.
* International suppliers who wish to discount their invoices should be registered for the reverse factoring service offered by Banco Santander.
In case of companies with legal entities (public limited companies, private limited companies, etc.):
- Last tax year’s income statement and balance (and provisional financial statements from the current year).
- Accounts audit in case it is mandatory for the company.
- You could also be required to present the last Corporate Tax and IGI (VAT equivalent) settlements and your employees’ contributions to CASS in order to verify that the payment of those tax liabilities is up to date.
- If needed, the bank will also be able to request additional information in order to carry out a proper asset, economic and financial analysis of your company.
The following documents are needed to register a supplier with Santander’s Confirming International service:
- Proof of existence of the supplier.
- Proof of representation of the supplier.
- Proof of identity of the supplier’s representatives.
- Proof of the supplier’s beneficial owners.
- Supplier’s bank details.
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Information on the processing of personal data
In compliance with Law 15/2003 of 18 December on protection of personal data, the customer authorizes that the applicant’s personal data entered on this form will be incorporated into files owned and managed by MORA BANC GRUP, SA – MORA BANC, SAU (hereafter referred to as “MoraBanc”) to process the requested service and, if necessary, to comply with the contracts finally entered into, and also to ensure correct operational procedures.
The applicant expressly authorises MoraBanc to send him/her commercial and promotional communications for products and services and information on the Bank itself, social or other activities, in hardcopy by post or by electronic means (among others, short messages (SMS) to mobile phones, e-mail, etc.). This consent can always be withdrawn, without retroactive effect.
The fact of filling out this form implies that the applicant acknowledges that the information and personal data provided are true, accurate and correct; otherwise, MoraBanc declines all responsibility for the lack of truthfulness or correctness of the data.
The applicant authorises the data provided to be communicated or shared with third parties forming part of the MoraBanc business group, entities which are primarily active in the financial, insurance and service sectors. The applicant is considered as having been informed of this transfer of information by means of this clause. The applicant accepts that he/she may be sent information on any product or service marketed by these companies.
The data processing manager is MoraBanc. The applicant is hereby informed that the rights of access, rectification, suppression or opposition may be exercised in the terms established in current legislation.
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